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Published in Stocks and Investing on Tuesday, June 29th 2010 at 4:10 GMT by Market Wire
RICHMOND, BC, June 29 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today the award of several strategic contracts to develop advanced technology concepts for NASA's New Frontiers Program. NASA's New Frontiers program will explore the solar system with frequent, medium class spacecraft missions designed to enhance our understanding of the solar system. The program objective is to launch high science return planetary science investigations on an average of one every 36 months. The contracts are funded by the Canadian Space Agency.
MDA is on all three candidate teams selected by NASA to conduct initial studies for a deep space exploration mission in the 2014-16 timeframe. Following the 12-month mission concept phase, one of these three projects will be selected by NASA to proceed. The three candidates include a mission to return samples from the Moon, a mission to return samples from an asteroid, and a mission to characterize the surface of Venus.
'This work continues MDA's heritage of providing advanced technology solutions to international space exploration programs, and further extends our longstanding collaboration with leading university researchers across Canada' said Steve Oldham, MDA's vice president responsible for this business.
About MDA
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
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Forward-Looking Statements
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a government contract. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. The factors and assumptions underlying the forward-looking statements in this release include contracts with any government agency not being terminated. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include changes in government priorities, funding levels, contracts and regulations; failure of third parties and subcontractors; and failure of systems to meet performance requirements.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at [ www.sedar.com ] or on the Company's website at [ www.mdacorporation.com ]. The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
